Minneapolis Portfolio Management Group Lowers stake in Popular Inc (BPOP)

Popular Inc (BPOP) : Minneapolis Portfolio Management Group reduced its stake in Popular Inc by 5.05% during the most recent quarter end. The investment management company now holds a total of 615,633 shares of Popular Inc which is valued at $21,023,867 after selling 32,709 shares in Popular Inc , the firm said in a disclosure report filed with the SEC on Aug 1, 2016.Popular Inc makes up approximately 3.61% of Minneapolis Portfolio Management Group’s portfolio.

Other Hedge Funds, Including , California State Teachers Retirement System reduced its stake in BPOP by selling 3,161 shares or 1.4% in the most recent quarter. The Hedge Fund company now holds 222,838 shares of BPOP which is valued at $7,609,918. Popular Inc makes up approx 0.02% of California State Teachers Retirement System’s portfolio.Boston Advisors reduced its stake in BPOP by selling 320 shares or 0.18% in the most recent quarter. The Hedge Fund company now holds 177,810 shares of BPOP which is valued at $5,935,298. Popular Inc makes up approx 0.14% of Boston Advisors’s portfolio. Parametrica Management Ltd added BPOP to its portfolio by purchasing 8,655 company shares during the most recent quarter which is valued at $270,728. Popular Inc makes up approx 0.39% of Parametrica Management Ltd’s portfolio.

Popular Inc opened for trading at $34.14 and hit $34.98 on the upside on Thursday, eventually ending the session at $34.96, with a gain of 2.37% or 0.81 points. The heightened volatility saw the trading volume jump to 11,17,826 shares. Company has a market cap of $3,625 M.

On the company’s financial health, Popular Inc reported $0.85 EPS for the quarter, beating the analyst consensus estimate by $ 0.03 according to the earnings call on Jul 26, 2016. Analyst had a consensus of $0.82.Analysts expectations of $ 489.00.During the same quarter in the previous year, the company posted $5.79 EPS.

Popular Inc. (Popular) is a financial holding company. The Company operates in two segments: Banco Popular de Puerto Rico (BPPR) and Banco Popular North America (BPNA). The Company’s BPPR segment provides retail including residential mortgage loans originations and commercial banking services through its banking subsidiary Banco Popular de Puerto Rico as well as auto and equipment leasing and financing investment banking broker-dealer and insurance services through specialized subsidiaries. The Company’s BPNA segment consists of Popular North America Inc. (PNA) functioning as the holding company for the Company’s operations in the United States. The banking operations of BPNA in the United States mainland are based in New York Florida and New Jersey conducted under the name of Popular Community Bank.

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